Pinacl Solutions

Pinacl

Blog

Smart waste management expected to hit $3.14 billion by 2023

The smart waste management industry, currently valued at $1.2 billion, is expected to hit $3.14 billion by 2023 according to the Waste Management Market Report 2018-2023.

Waste management is an important aspect of urban life to help keep communities free from unwanted clusters of waste. In order to improve this, smart waste management is an imperative aspect of a smart city strategy.

With the increasing levels of urbanisation and industrialisation across the globe, the amount of waste generated is expected to increase to 2.3 billion tonnes annually by 2020 according to the World Bank.

Due to this rapid growth in waste, demands for data-driven, efficient handling are increased. Outdated manual collections can be inefficient as the state of waste is unknown, with the chance that bins could overflow or be empty. Overflowing bins are can have a negative impact on the health and safety of those living and visiting the city.

Waste management often accounts for 20-50% of municipal budgets, and therefore poses a significant pressure on local authorities to maximise their efficiencies.

The introduction of IoT, such as sensor technology, has revolutionised the industry by providing smart collection methods.

Local authorities have begun to introduce smart bins that can help show how full each bin is, allowing for smart solutions such as intelligent monitoring, route optimisation and analytics to take place.

By putting these new data-driven methods into practice, local authorities can reduce unnecessary fleet fuel consumption as well as reduce carbon emissions in the city.

 

Pinacl is a market leader in Digital Transformation and is currently working with a number of councils and housing associations who are keen to trial and adopt new technology, recognising the potential for a rapid Return on Investment from Pinacl’s IoT solutions.

Pinacl can provide smart enterprise grade waste management solutions for cities and businesses. Through unique waste management technology, Pinacl is re defining the way waste is managed.

Pagination